Homework Help: accounts

Posted by priyanka on Friday, October 26, 2012 at 7:20am.

on july 01,2000, asok ltd. purchased a machine for Rs.1,08,000 and spent Rs.12000 on its installation.At the time of purchase it was estimated that the effective commercial life of the machine will be 12 years and after 12 years its salvage value will be Rs.12,000.prepare machine account and depriciation account in the books of ashok Ltd. for first three years,if depriciation is written off to straight line method.the accounts are closed on december 31st,every year

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